Investment/rabbit

Editorial Team

U City announces its name change to Rabbit Holdings

The extraordinary general meeting of shareholders held on November 24, 2022 passed a resolution approving U City Public Company Limited (“the Company or U City”) to change its name to Rabbit Holdings Public Company Limited (“Rabbit Holdings”) to reflect the change in business direction, a long-term business that primarily focuses on financial services.

Ms. Soraya Satiangoset, acting chief executive officer of Rabbit Holdings

Ms. Soraya Satiangoset, acting chief executive officer of Rabbit Holdings, said that the purpose of changing the company’s name is to be in line with the change in the company’s long-term business strategy. By shifting from the real estate business to the financial services business, it will create synergies among companies within BTS Group and the partnership network under BTS Group's 3M strategy.

In addition to the company’s name change, Rabbit Holdings is preparing to enter a new era through the gradual disposition of its real estate assets and will use the proceeds to invest in the financial services business.

By the end of this year, the disposal of its real estate assets will be valued at almost 6 billion baht. As part of its transformation, Rabbit Holdings has also invested in the financial services business, namely Rabbit Life, a life insurance company; as well as investments in Jay Mart Public Company Limited (“JMART”) and Singer Thailand Public Company Limited (“SINGER”). The company aims to invest more in the Nano Finance and Asset Management business (AMC) in the future.

Ms. Soraya added the name Rabbit Holdings will help change the company’s image to be contemporary, suitable for the new business direction. Notably, Rabbit Life recently launched a new insurance product, attracting a new generation interested in high-yield investments within a shorter timeframe.

The new insurance product known as HERO 10/3, where the insured pays a premium for three years, receives insurance coverage for 10 years and a 20% of the sum insured from the first year with a tax deduction of up to 100,000 baht”.

Rabbit Holdings Public Company Limited (formerly U City Public Company Limited) was previously a diversified real estate investment business such as hotel and service, and office and commercial space rental.

Rabbit Holdings is changing its long-term business direction, aiming to invest in financial services and other related businesses such as life insurance, microfinance, and insurance brokerage. Currently, BTS Group Holdings Public Company Limited is the major shareholder of the company in the proportion of 45.93%